Touch America Holdings Inc.

• Public
• US

Dow Jones Description

Touch America Holdings, Inc., was incorporated on September 27, 2000 under the laws of the state of Delaware. We are the publicly traded successor to The Montana Power Company (MPC), which prior to the reorganization discussed below, provided telecommunications and energy products and services. With our transition to Touch America Holdings, Inc., we are now a national broadband telecommunications company, providing services including customized voice, data and video transport through our principal operating subsidiary, Touch America, Inc. On March 28, 2000, MPC's Board of Directors announced its decision to divest its multiple energy businesses, separating them from Touch America, Inc. The Board of Directors decided to divest the energy businesses based on a belief that the divestiture would allow the company to focus on Touch America, Inc.'s telecommunications business, while enabling the energy businesses to continue under new ownership. The Board of Directors concluded that the existing structure, which had been created to be responsive to the demands of a regulated utility business, could not continue to meet the demands and ensure the success of the different energy and telecommunications businesses.

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